Sweden's Fastator postpones interest payment on bonds (updated)

Fastator AB (publ)

14/03/2024 16:48

(Adds detail)
       COPENHAGEN, March 14 (Reuters) - Swedish real estate
group Fastator  FASTAT.ST  on Thursday said it would postpone
interest payments on bonds due on March 22 and March 25, adding
that it intends to announce later when the payments could be
made.
        Fastator is one of many property companies hit by
Sweden's wider real estate crisis, triggered by high debts,
rising interest rates and a wilting economy.
  
        The company on Monday said it aims to reach a 
    standstill agreement
     with its bondholders to avoid repayment demands as a result
of 
    breaching
     its financial solvency covenant, and to allow it to find
long-term financial solutions.
  

 (Reporting by Louise Breusch Rasmussen, editing by Terje
Solsvik)
 ((Louisebreusch.rasmussen@tr.com; +45 21 27 97 79;))